Can Ripple’s RLUSD Become a Leader in the Stablecoin Landscape?
In recent months, the crypto community, particularly XRP supporters, has been eagerly anticipating the launch of Ripple's stablecoin, RLUSD.
Recent updates, including insights from CEO Brad Garlinghouse, suggest that the rollout could happen within weeks, although the stablecoin is still undergoing beta testing.
A significant milestone in this process was the burning of 24 RLUSD on the XRP Ledger (XRPL) and 64 RLUSD on the Ethereum blockchain, confirming that Ripple’s stablecoin will function on both networks simultaneously.
Ripple’s executives have also hinted at the potential for launching on additional networks in the future. However, details regarding the total supply and any limits on issuance remain unclear.
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Ripple aims to capture a substantial share of the stablecoin market, projected to reach $2.8 trillion by 2028, especially considering the overall crypto market is currently valued at just over $2 trillion.
As the beta testing continues, it will be crucial for Ripple to perfect the minting and burning processes, as building user trust in the stablecoin market is vital—once lost, that trust can be incredibly difficult to restore.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
